Question

Based on the loan details and payment schedule below, what type of loan is it?
Loan details
Principal amount: 200,000
Loan term: 10 years
Interest rate: 5%
Collateral: House
Year
Beginning Balance
Interest
Principal
Ending Balance
1
200,000
9,641
15,815
184,185
2
184,185
8,832
16,624
167,561
3
167,561
7,981
17,475
150,087
4
150,087
7,087
18,369
131,718
5
131,718
6,147
19,308
112,410
6
112,410
5,160
20,296
92,114
7
92,114
4,121
21,335
70,779
8
70,779
3,030
22,426
48,353
9
48,353
1,882
23,573
24,780
10
24,780
676
24,780
0

Answer 1

Explanation:

sorry i donnot know very very sorry